Investors lost more than $5 million due to a fraudulent application in the App Store
Individual investors have filed a lawsuit against Apple in connection with a fraudulent application posted on the digital App Store.
Apple is being sued again. This time, the reason was a cryptocurrency application available in the corporation's official digital store. The lawsuit alleges that the attackers used a fake software cryptocurrency wallet, defrauding crypto investors for more than $5 million.
The plaintiff is Maryland resident Hadona Diep, who introduced herself as a full-time cybersecurity IT specialist. She accused the corporation of deliberately adding a malicious application to the App Store. As a result of the actions of its developers, Diep lost 474 XRP tokens, equivalent to $511.92 at the current exchange rate on Huobi.
The complaint mentions the Toast Wallet simulator application Toast Plus. With the help of it, the attackers managed to find out the seed phrase Diep, after which they stole Ripple tokens from her wallet. In an appeal to court, Diep claims that thanks to Toast Plus, hundreds or even thousands of cryptocurrency investors have been defrauded into more than $5 million in digital currency equivalents.
Earlier, Apple has repeatedly stated that it protects App Store users from downloading fraudulent and malicious applications. But the fact of this was questioned not only by Hadona Diep, but also by the developer of the mobile application FlickType. In addition, it is not known why scam applications continue to appear in the digital store with such a reliable level of protection.
For several years now, fraudulent applications have been one of the main problems for the largest players in the mobile market, such as Google and Apple. Both companies are regularly criticized for not only exorbitant developer fees and an attempt to establish a monopoly in the industry, but also for the abundance of malware available for download.
According to the Washington Post, 2% of the top-grossing apps on the App Store are fraudulent. At the same time, the most effective strategy to combat intruders is considered by security experts to educate consumers. But so far, none of the platforms has been able to achieve tangible success in convincing people not to download applications that promise them "mountains of gold", leaving them later penniless.
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